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Posted
I've managed to make-up a pretty good and clean set of Talormade R7 clubs, from the irons, Superquad TP, 3-wood TP, Rossa putter, a mixture of new and used stuff. Now I'm in the market for some insurance, both for public liability and for my gear and the insures I have contacted have said I need a new-for-old policy and that I should price up the new stuff to the equivelent of what I've got now. So how/what should I use for replacement purposes?

Funny thing how you first meet the woman that you marry. I first met the wife in a tunnel of love. She was digging it - Les Dawson

 

R7 TP 3i - 9i

R7 TP Superquad 9.5
R7 TP 3w
R7 TP's Rossa Daytona 1 TP Black R7 Stand-bag

 

 


Posted
What are you trying to insure against? My clubs are almost always in one of three places: in my home, in my car, or in my hands while I use them. While they are at home, they're covered by my Homeowner's insurance (or renter's when I lived in an apartment), in my car my car insurance, and while I'm using them I'm not likely to lose them. So I guess I don't know what you're trying to insure against.

Posted
Correct about the homeowners and car plus depending on if you're a member at a country club they may have a policy if you use their club storage. I'm actually interested to hear how much it costs to insure them.
Driver: i15, 3 wood: G10, Hybrid: Nickent 4dx, Irons: Ping s57, Wedges: Mizuno MPT 52, 56, 60, Putter: XG #9 

Posted
I am curious about the cost as well.

Also if they are stolen out of my home, I'm not exactly sure I would want to claim that. Maybe if more stuff was stolen than my golf bag, which is entirely possible given most break-ins...

I almost always golf with a partner, so never worried about losing clubs that are sitting outside the clubhouse. The insurance would have to be insanely cheap!

Grom stand bag
SQ 5900 - 9.5*
Burner 15* and 18*
MT 20* Hybrid
CG Gold 4-PW CG14 52.10 SM 56.14 IC 20-10a 34" Putter SDF balls (was on sale)


Posted
The majority of the time if you have homeowners or renters insurance, that policy will cover the loss of the clubs. They are just personal property like a computer or TV. If they are stolen or fall in the lake, they will replace them minus the deductible. I am guessing that the OP is either taking out an valuable articles (like what you would do for a wedding ring for instance) addition to his current policy, or if he doesn't have any policy this would be just for the clubs.

If you have a bunch of TM R& stuff, just use the price of the R9 stuff. Or go to Golfsmith or TGW or some online retailer and build a bag with what you would want and figure out the retail price. They are looking for a replacement cost from you so they know how much to figure the policy. It doesn't need to be exact. Aim high though, and include everything down to the cost of the bag and umbrella. In insurance terms there won't be much different in the cost of a $2500 policy and a $2250 policy. You don't want to have to pay for a policy, then use it, and then have to spend $500 out-of-pocket just because the policy didn't cover enough.

P.S If you don't have any property insurance, get some to cover all your stuff. Renters insurance is very cheap and will replace everything.

I will judge my rounds much more by the quality of my best shots than the acceptability of my worse ones.


Posted
With how fast clubs depreciate, I'm not sure why you'd want to insure golf clubs. Unless the cost is less than $10 per year, I don't see the benefit.

BTW, I don't believe homeowner's insurance is a good option. Unless you have really expensive clubs, it's not worth filing a claim and having your premiums go up. IMO, homeowner's should be used for major issues only.

Kevin

-------
In the Bag
Driver: G15 9.0*3 & 5 Wood: BurnerHybrid: Pro Gold 20*; 23*Irons: MP-58 (5-PW)Wedges: Vokey Spin Milled 52*8; 56*14Putter: Newport 2.0 33"Balls: NXT


Posted
  kfowler said:
With how fast clubs depreciate, I'm not sure why you'd want to insure golf clubs. Unless the cost is less than $10 per year, I don't see the benefit.

Your premiums should not increase because of a claim. If they do, I'd recommend finding a better insurance company!

Having said that though, most homeowners policies have a pretty significant deductible associated with them. That deductible will certainly limit the amount that would be recovered against a relatively small claim of less than a couple thousand dollars.

In David's bag....

Driver: Titleist 910 D-3;  9.5* Diamana Kai'li
3-Wood: Titleist 910F;  15* Diamana Kai'li
Hybrids: Titleist 910H 19* and 21* Diamana Kai'li
Irons: Titleist 695cb 5-Pw

Wedges: Scratch 51-11 TNC grind, Vokey SM-5's;  56-14 F grind and 60-11 K grind
Putter: Scotty Cameron Kombi S
Ball: ProV1

Awards, Achievements, and Accolades

Posted
I think he is referring to the replacement cost so the depreciation wouldn't matter. He would get new equipment to replace the old. That is where the insurance comes in handy. He would only have to pay the deductible and get all new gear, not whatever his stuff is curretly worth.

Personally, I think it is well worth it, even with a deductible. Back when I had renters insurance the deductible was $500. I would gladly pay $500 to get all new gear, especially since the clubs themselves would not be an added cost to the premium. I think my homeowners is a little more, but it is still less than what it would be to build a bag from scratch.

I will judge my rounds much more by the quality of my best shots than the acceptability of my worse ones.


Posted
I would have never thought of insurance for my clubs, but thinking about replacing them in the event of theft makes me think more about it.

Posted
I think he is referring to the replacement cost so the depreciation wouldn't matter. He would get new equipment to replace the old. That is where the insurance comes in handy. He would only have to pay the deductible and get all new gear, not whatever his stuff is currently worth.

Yes, but let's say he pays $100 per year for insurance. He buys a new full set of clubs and pays $1000. Two years later, the full set is now only worth $200. So now he's paying $100 per year for clubs that are worth only $200. I understand his replacement cost will be much higher but you have to way in the fact that you could buy the same set used for $200.

This is kind of an extreme example but it's something to consider when buying insurance on items that depreciate a lot. I have two rider policies on my homeowner's. One is for my wife's wedding ring and the other is for a very expensive guitar. Both have very little depreciation if at all. One more thing to clarify, this will all come down to the price of your premium. If it's like $30 per year. I'd say it's worth it.

Kevin

-------
In the Bag
Driver: G15 9.0*3 & 5 Wood: BurnerHybrid: Pro Gold 20*; 23*Irons: MP-58 (5-PW)Wedges: Vokey Spin Milled 52*8; 56*14Putter: Newport 2.0 33"Balls: NXT


Posted
Thanks for the replies. Annual premiums average out at about $80 to $100 for cover up to $3200 for your clubs, bag or buggy. I see the point that there will be a peak when the premium is worth more than the clubs, but what is included in the insurance is your public liability, hole-in-one cover, non-playing cover (golf club fees) and personal accident. Yes I have home contents cover and public liability through that, but it is apparently difficult to claim through it if you hit someone on the course or send a ball through the clubhouse lounge window (just shouting 'fore' does not mean you won't end in court being sued). That's why I want insurance but it hinges on the value of your gear.

Funny thing how you first meet the woman that you marry. I first met the wife in a tunnel of love. She was digging it - Les Dawson

 

R7 TP 3i - 9i

R7 TP Superquad 9.5
R7 TP 3w
R7 TP's Rossa Daytona 1 TP Black R7 Stand-bag

 

 


Posted
Result. Telephoned my home insurers who confirmed I've got public liability cover and the clubs are insured as a valuable away from home - but not when I'm using them (got to be determined to steal clubs as I'm using them!) Still need a replacement value though for new-for-old cover. Thanks again for your time and typing.

Funny thing how you first meet the woman that you marry. I first met the wife in a tunnel of love. She was digging it - Les Dawson

 

R7 TP 3i - 9i

R7 TP Superquad 9.5
R7 TP 3w
R7 TP's Rossa Daytona 1 TP Black R7 Stand-bag

 

 


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